Bear Stearns Stockholders Approve Merger
29 5월 2008 - 11:55PM
Business Wire
The Bear Stearns Companies Inc. (NYSE: BSC) and JPMorgan Chase
& Co. (NYSE: JPM) today announced that the stockholders of Bear
Stearns, at a Special Meeting of Stockholders held earlier today,
approved the merger with JPMorgan Chase. Approximately 84% of
shares voted were in favor of the merger, representing a
substantial majority of Bear Stearns� outstanding common stock.
JPMorgan Chase and Bear Stearns have scheduled the merger to close
at the end of the day on May 30, 2008. Upon completion of the
merger, each outstanding share of common stock of Bear Stearns will
be converted into the right to receive 0.21753 shares of JPMorgan
Chase common stock and Bear Stearns will become a direct subsidiary
of JPMorgan Chase. Also, the Federal Reserve Bank of New York and
JPMorgan Chase agreed that they will complete the previously
announced sale of $30 billion of assets by subsidiaries of Bear
Stearns and the related financing on or about June 26 rather than
concurrently with the closing of the merger. The additional time
will help ensure the smooth transfer of this large portfolio.
JPMorgan Chase & Co. (NYSE: JPM), is a leading global financial
services firm with assets of $1.6 trillion and operations in more
than 60 countries. The firm is a leader in investment banking,
financial services for consumers, small business and commercial
banking, financial transaction processing, asset management, and
private equity. A component of the Dow Jones Industrial Average,
JPMorgan Chase serves millions of consumers in the United States
and many of the world�s most prominent corporate, institutional and
government clients under its JPMorgan and Chase brands. Information
about the firm is available at www.jpmorganchase.com. The Bear
Stearns Companies Inc. (NYSE: BSC) serves governments,
corporations, institutions and individuals worldwide. The company's
core business lines include institutional equities, fixed income,
investment banking, global clearing services, asset management, and
private client services. For additional information about Bear
Stearns, please visit the firm's website at www.bearstearns.com.
Bear Stearns (NYSE:BSC)
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